E-commerce giant Amazon has acquired Body Labs, a New York-based startup. Body Labs makes software, including one called SOMA, which can transform photos, videos, body scans and physical measurements into accurate 3D body shapes. This technology could be used for virtually trying on clothes or to create gaming avatars. Additionally, Body Labs also has developed other products called BodyKit, Body Labs Blue, Body Labs Red and Mosh Mobile App.
There is no confirmed news about the exact amount of purchase; however, there is speculation that the deal closed between $50 million and $70 million.
Body Labs was founded in 2013 by Michael Black, William J. O’Farrell, Eric Rachlin and Alex Weiss. The partners were connected at Brown University and Max Planck Institute for Intelligent Systems.
The company has raised more than $10 Million in two funding rounds so far. Its backers include Alex Weiss, Bill O’Farrell, Catalus Capital, Eric Rachlin, FirstMark, Intel Capital, Max Planck Innovation, Michael Black, New York Angels and Osage University Partners. The company is estimated to be valued at $30 million.
“No doubt that Amazon will drive innovation at an exhilarating scale, and it has been my honor to help make it happen,” wrote Ali Javid, Body Labs’ vice president of business development, who also mentioned that he has not decided to join Amazon.
Amazon is in a process of redefining itself. In 2017 the company launched nine new fashion brands. It also came up with Echo – a hands-free camera that will analyze your outfit. Plus, a new service is launching for Amazon prime members that will allow them to try on clothes before purchasing.
Amazon has not yet responded to a request for comment on this acquisition.